Microloans Becoming Popular With Business Owners In Silicon Valley
Sometimes as a business owner you need a loan.
Not a large one, but a small one.
The problem is that the mainstream financial system is NOT designed to provide this type of loan.
Check out this post called “Microloans Surging in Silicon Valley” by Martha Mendoza and learn about this growing alternative that more and more business owners are choosing…
“A daycare provider needed cribs and high chairs. A coffee truck needed a generator. A couple renting party supplies needed to move from a garage into a storefront.
“When these Silicon Valley small businesses needed an influx of cash, and fast, they didn’t find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer.
“Microlending, a decades old form of financing for the world’s poorest, is now booming in Silicon Valley. The region leads the country for microlending as a growing echelon of would-be businesspersons who can’t qualify for traditional bank loans meets money from cash-rich techies and firms, including eBay and Microsoft, who want to donate in innovative ways.”
Photo by mil8
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